News updates December 21, 2021

1. Binance announces agreement with Dubai World Trade Center to build a crypto hub

Binance the world’s leading crypto exchange by trading volume announced a new partnership with Dubai World Trade Center Authority (DWTCA) to build a crypto hub. The Memorandum of Understanding (MoU) with the DWTCA would see the global crypto exchange help Dubai become a leading center for crypto businesses and also build a crypto ecosystem that “generate long-term economic growth through digital innovation.

2. Indonesia appears to be the next country to support a government-issued digital currency in the ongoing war between Cryptocurrencies and CBDCs. The Central Bank of Indonesia, according to its assistant governor Juda Agung, is developing a digital rupiah to "combat" currency like Bitcoin. “A CBDC would be one of the tools to fight Crypto. We assume that people would find CBDC more credible than Crypto.

3. Bitcoin News
Elon Musk Criticizes the Current State of Web3, Wonders About Future of Metaverse

Elon Musk, CEO of Tesla, has criticized the current state of the metaverse and the Web3 movement, suggesting the latter concept is a “marketing buzzword.” The crypto influencer also posted a video of David Letterman making fun of the early internet in an interview with Bill Gates, and wondered what the future will bring.

4. US govt has huge secret crypto assets to auction.

The US government has been seizing and then auctioning off cryptocurrencies for years. The process is gaining steam, so it has enlisted the help of the private sector to manage the storage and sales of its hoard of tokens.

According to Jarod Koopman, the director of the Internal Revenue Service’s cybercrime unit, the government has acquired record amounts of crypto in recent years

In fiscal year 2019, we had about $700,000 worth of crypto seizures. In 2020, it was up to $137 million. And so far in 2021 (as of August), we’re at $1.2 billion,” Koopman told CNBC earlier

Experts say with the rapid growth of cybercrimes the US government’s crypto coffers are expected to expand even further.

5. Whatsapp has launched a new pilot that allows a small number of people in the US to send and receive money using cryptocurrencies from within a chat.

6. Young Millionaires Finds Crypto Assets Appealing and Prepares for More Crypto Allocations in 2022

Survey shows millennial millionaires have their stashes in crypto and plans to add more cryptos to their portfolios in 2022

In a survey conducted by CNBC, more than 83% of millennial millionaires own crypto assets and more than half of those surveyed have more than 50% of their wealth in crypto assets
CNBC Millionaire Survey polled investors with assets of more than $1 million, not inclusive of their primary residence
The survey shows a generational divide between baby boomers and millennials when it comes to their perception of crypto assets.